76ers reveal plan for Philadelphia arena



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Preliminary approval for new 76ers arena Image: Philadelphia 76ers

The NBA’s Philadelphia 76ers have unveiled plans to build a new state-of-the-art home arena in the South Philadelphia Sports Complex.

Harris Blitzer Sports & Entertainment (HBSE) and Comcast Spectacor have entered into a binding agreement to form a 50-50 joint venture to build the world-class arena for the 76ers and the NHL’s Philadelphia Flyers.

The deal means there will be no new arena at Market East in City Center that had formed part of previous plans.

AOL.com said the companies, team, NBA Commissioner Adam Silver and Mayor Cherelle Parker announced the deal after the team and Parker had previously pushed for a $1.3 billion arena at Market East.

Slated to open in 2031, with the potential to accelerate to an earlier date, the new facility will be one of the finest, most technologically advanced, and sustainable sports and entertainment arenas in the country. In addition, the partnership will include a 50-50 venture to invest in the revitalization of Market East in Center City.

HBSE said that by committing to both investments, the partnership will create thousands of jobs, generate billions of dollars in economic activity for the city, region and state, and enhance commitments to create economic opportunity in neighborhoods across Philadelphia.

In addition, Comcast is planning to take a minority stake in the 76ers and will join with HBSE to bid to bring a WNBA team to the city.

The Philadelphia 76ers, also known colloquially as the Sixers, is an American professional basketball team based in the Philadelphia Metropolitan area (US). The 76ers compete in the National Basketball Association (NBA) as a member of the Atlantic Division of the Eastern Conference. The team plays its home games at the Wells Fargo Center located in the South Philadelphia Sports Complex.

Brian L. Roberts, Chairman and CEO, Comcast Corporation, said, “This is a great day for Philadelphia and the fans of our storied sports franchises. We are grateful to Mayor Parker and Governor Shapiro for their leadership and are thrilled to work together to develop the premier sports and entertainment destination in the nation that will benefit the region for decades to come.”

HBSE’s Josh Harris, David Blitzer, and David Adelman said, “From the start, we envisioned a project that would be transformative for our city and deliver the type of experience our fans deserve. By coming together with Brian and Comcast, this partnership ensures Philadelphia will have two developments instead of one, creating more jobs and real, sustainable economic opportunity.”

NBA Commissioner Adam Silver said, “This announcement is great news for the City of Philadelphia. I greatly appreciate the leadership of Mayor Parker and Governor Shapiro and the willingness of HBSE and Comcast to join forces, the result of which will be a world-class arena for 76ers and Flyers fans, with opportunities for more teams to come.”

Gary Bettman, NHL Commissioner, added, “We’re thrilled to see Comcast Spectacor and HBSE unite to deliver a new state-of-the-art arena in South Philadelphia. For the past 58 years, in both the Spectrum and Wells Fargo Center, those arenas and Flyers’ fans have consistently produced an atmosphere that is among the best in sports.

“This visionary and forward-looking facility will take the fan experience to a whole new level where the great pride and passion of Philadelphia sports fans will continue to be on full display.”

The 76ers said Comcast will have the naming rights to the venue. HBSE and Comcast will also immediately focus on Market East, bringing together government officials and local stakeholders to develop a variety of options to revitalize a vital neighborhood in Center City where the 76ers had originally proposed locating the arena.

Dan Hilferty, Chairman and CEO of Comcast Spectacor, said, “We firmly believe we are better working together for Philadelphia.

“This new arena will complement other exciting developments in the area, including Comcast Spectacor’s and the Philadelphia Phillies’ plans to create the country’s top sports and entertainment district. We will all work closely together to create an unmatched experience for the fans while developing a vibrant mixed-use district that serves our community.”

76ers co-owner Josh Harris added, “Philadelphia will now benefit from two developments instead of one. At the Sports Complex, we will work together to build the very best arena in the country.”

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